Chart check: Power-packed rally in NTPC, Tata Power has more legs

Tata Power and Coal India are witnessing strong momentum based buying, while Indian Energy Exchange (IEX) can surge 20% in the medium-term, tech charts show

NTPC Ltd (NTPC)
Likely target: Rs 155 and Rs 162
Upside potential: 7% to 11%

The breakout of the consolidation range was marked by massive gains of almost 20 per cent from Rs 122 levels, according to the daily chart. The current stock price scenario exhibits minor barrier at Rs 145-level. Once this mark gets conquered, the next breakout may point a rally towards Rs 155 and Rs 162. The immediate closing basis support for the stock is at Rs 135-level.  CLICK HERE FOR THE CHART
 
Tata Power Co. Ltd (TATAPOWER)
Likely